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Tulip Telecom Ltd share price today (on 22 September 2023).
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Live Chart - Tulip Telecom Ltd
BSE: 532691 | NSE: TULIP | ISIN: INE122H01027 Market Cap: [Rs.Cr.] 668 | Face Value: [Rs.] 2 Industry: Telecommunications - Service ProviderTulip Telecom Ltd is one of the largest data telecom service and IT solutions provider in India. The company offers innovative IP based infrastructural solutions to their customers. They provide intra-city and inter-city multi protocol label switching virtual private network (MPLS VPN) connectivity, based on last mile on Wireless Network in more than 1300 cities across the country. The company also provides network integration services, including State Wide Area Networks (SWANs), and other government initiated projects to supply, install and maintain the networks to connect various government departments and offices.
They also specialize in providing eGovernance infrastructure and have worked on numerous projects for the Government of India's National eGovernance Plan. The company has two subsidiaries, namely Tulip IT Services Singapore Pte Ltd and Tulip Swan IT Services Ltd. Tulip Telecom Ltd was incorporated in the year 1992 as Tulip Software Pvt Ltd. The company was originally a leading player in Packaged Software and PCs. In the year 1994-95, they diversified into hardware and became a leading partner for most major computer manufacturers. In the year 1995-96, the company further diversified their business and became a system integrator. They opened a branch in Mumbai, which helped them in expanding their business in the western India. They also, started providing turnkey telecom solutions to major organizations during this period.
In the year 1999, they bagged major Wide Area Networking orders. During the year 2001-02, the name of the company was changed from Tulip Software Ltd to Tulip IT Services Ltd with effect from January 10, 2002. In the year 2003, the company changed their line of business and started specializing in Wide Area Networking. During the year 2004-05, the company launched two new projects in the market namely Tulip Connect and Rural Connect. The first execution under Rural Connect project is at Malappuram in Kerala. They also bagged major orders for VPN connectivity for Tulip Connect. In December 2005, they went public through IPO and raised Rs. 108 crore. In the year 2006, the company started with MPLS network in over 500 cities. In August 2006, they entered into an agreement with NTT Communication India Pvt Ltd for providing connectivity services on Tulip's MPLS network to NTTComs global customers based in India. In the year 2007, they bagged their first order for State Wide Area Network project of Haryana State. They extended their MPLS/ VPN network in over 800 cities.
In May 2007, the company formed a wholly owned subsidiary company, namely Tulip Swan IT Services Ltd, for carrying the business of setting up, maintaining and operating of State Wide Area Networks or other Wide Area Networks. In July 2007, the company got the international long distance (ILD) licence from the federal government, which allows the company to offer network carriage services for international connectivity to customers from an integrated platform and international leased circuits. Also, the company was awarded the ILD license by the Department of Telecom, which allows the company to address the needs of their customers for international Voice, Video and Data connectivity.
During the financial year 2007-08, the company won the State Wide Area Network project for West Bengal and Assam. They extended their MPLS/ VPN network in over 1200 cities. The company launched their first Tier III Data Centre at New Delhi. They are planning to open more Data Centers in other parts of the country. During this period, the name of the company was changed from Tulip IT Services Ltd to Tulip Telecom Ltd with effect from April 25, 2008. In September 2008, the company bagged Madhya Pradesh State Area Network Project of worth Rs. 95 crore. In October 2008, they made a partnership with Citrix India to offer IP based solutions to Indian enterprises.
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